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Learn about scarcity, prosperity, values, cooperation, character, markets, spontaneous order, and entrepreneurship. You'll see the profound effect of free markets on our standard of living across the globe and over hundreds of years.

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Students today are often given a skewed account of the Great Depression of 1929-1941 that condemns free-market capitalism as the cause of, and promotes government intervention as the solution to, the economic hardships of the era. In this essay based on a popular lecture, Foundation for Economic Education (FEE) President Lawrence W. Reed debunks this conventional view and traces the central role that poor government policy played in fostering this legendary catastrophe.